At what rate percent per annum will Rs. 50000 amount to Rs. 58320 in 2 years, compound interest compounded annually? MCQ with Answer and Explanation

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At what rate percent per annum will Rs. 50000 amount to Rs. 58320 in 2 years, compound interest compounded annually?

A. 8%

B. 10%

C. 6%

D. 12%

Answer: Option A

Solution (By JKSSB Mock Tests)

Amount/Principal = 58320 / 50000 = 5832 / 5000 = 11664 / 10000 = (108 / 100)^2. Therefore, 1 + R/100 = 1.08 => R = 8%.

This question belongs to: Maths Compound Interest

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Question #1

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What will be the compound interest on a sum of Rs. 25000 after 3 years at the rate of 12% per annum?

A. Rs. 10123.20

B. Rs. 9720.00

C. Rs. 9000.00

D. Rs. 10483.20

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Correct Answer: Option A

Explanation:
Amount = 25000 * (1 + 12/100)^3 = 25000 * (1.12)^3 = 25000 * 1.404928 = Rs. 35123.20. Compound Interest = 35123.20 - 25000 = Rs. 10123.20.

This question belongs to: Maths Compound Interest

Question #2

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A sum of money at compound interest becomes 5 times in 5 years. In how many years will it become 125 times?

A. 20 years

B. 10 years

C. 15 years

D. 12 years

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Correct Answer: Option C

Explanation:
125 = 5³, so 5 × 3 = 15 years.

This question belongs to: Maths Compound Interest

Question #3

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The difference between CI and SI on Rs. 4800 for 2 years at 7.5% is:

A. Rs. 30

B. Rs. 24

C. Rs. 27

D. Rs. 33

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Correct Answer: Option C

Explanation:
7.5% = 3/40. D = 4800 × (3/40)² = 4800 × 9/1600 = 27.

This question belongs to: Maths Compound Interest

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